Global Solar LED Street Lighting Market

MARKET SCOPE:

The global Solar LED Street Lighting market is projected to grow significantly, registering a CAGR of 11.6% during the forecast period (2024 – 2032).

Solar LED Street lighting refers to outdoor lighting systems that integrate light-emitting diode (LED) fixtures powered by solar panels. These systems use photovoltaic cells to convert sunlight into electrical energy, which is stored in batteries for nighttime illumination. Solar LED Street lights are designed to provide energy-efficient, sustainable, and cost-effective lighting solutions for streets, roads, pathways, and other outdoor areas. Growing emphasis on energy efficiency and the need to reduce energy consumption in outdoor lighting. Solar LED Street lights are highly energy-efficient, utilizing LED technology and solar power to provide illumination with minimal environmental impact. Increasing awareness of environmental issues and the global shift towards sustainable practices. Solar LED Street lighting aligns with sustainability goals, offering a clean and renewable energy source that reduces reliance on conventional grid power. Long-term cost savings due to reduced energy bills and lower maintenance requirements. Solar LED Street lights provide a cost-effective solution, especially in areas where extending the grid infrastructure is economically challenging. Demand for lighting solutions in remote or off-grid locations with limited access to conventional electricity. Solar LED Street lighting is ideal for off-grid applications, providing reliable lighting without the need for grid connectivity. Incentives, subsidies, and favorable regulations promoting the adoption of renewable energy solutions. Government support encourages municipalities and organizations to invest in solar LED street lighting projects. Global trends in smart city development and the integration of technology for urban efficiency.

MARKET OVERVIEW:

Driver: Increasing advancement in LED technology is driving the market growth.

The driver highlights the ongoing advancements in light-emitting diode (LED) technology, which have resulted in improvements in efficiency, brightness, and durability of LED fixtures used in solar street lighting systems. The continuous evolution of LED technology positively impacts the performance of solar LED street lighting systems, making them more efficient, brighter, and longer-lasting. Advances in LED technology led to improvements in energy efficiency, allowing solar LED street lighting systems to generate more light output per unit of energy consumed. Higher brightness levels, achievable through advanced LED designs, contribute to better visibility and safety in illuminated areas. Technological improvements enhance the durability and resilience of LED fixtures, ensuring longer lifespans and reduced maintenance requirements. n solar LED street lighting systems, LED fixtures serve as the primary light source. Ongoing advancements in LED technology directly impact the quality of illumination provided by these fixtures. Advanced LED designs result in higher lumen output per watt, increasing the overall efficiency of solar LED street lighting. Upgrades in LED technology contribute to better color rendering, allowing for more accurate and natural illumination.

Opportunities: Rise need for environment sustainability is anticipated for the market growth in the upcoming years.

The driver mentioned underscores the growing emphasis on environmental sustainability and the demand for solutions that align with broader sustainability goals. There is an increasing awareness and concern among individuals, communities, businesses, and governments about the impact of human activities on the environment. Issues such as climate change, air pollution, and the depletion of natural resources are gaining attention. This heightened awareness has translated into a growing demand for sustainable and eco-friendly technologies across various sectors, including urban infrastructure. Solar LED Street lighting is recognized as a clean and renewable energy source. By harnessing energy from the sun, these lighting systems significantly reduce dependence on conventional energy sources, which often contribute to environmental degradation. Solar LED Street lighting aligns with sustainability goals by directly contributing to the reduction of greenhouse gas emissions. Traditional street lighting systems, especially those powered by non-renewable sources, are associated with carbon emissions and other pollutants. Solar LED Street lighting systems have a minimal carbon footprint compared to conventional systems. The use of energy-efficient LED fixtures further enhances the overall environmental benefits.

COVID IMPACT:

The COVID-19 pandemic has had both direct and indirect impacts on various industries, including the renewable energy sector. Regarding solar LED street lighting, the impact can be observed in several areas. The solar industry, like many others, experienced disruptions in the supply chain due to lockdowns, travel restrictions, and manufacturing plant closures. Delays in the production and delivery of solar components, including solar panels and LED fixtures, may have affected the deployment of solar LED street lighting projects. Lockdowns and social distancing measures impeded construction activities and installations. Projects, including solar LED street lighting installations, faced delays due to labor shortages, restrictions on movement, and the prioritization of essential services. Many municipalities and organizations faced financial challenges during the pandemic. Budget constraints and uncertainties may have led to a reevaluation of priorities, potentially delaying or scaling back solar LED street lighting projects. Some regions experienced changes in government funding and subsidy programs as a response to economic challenges posed by the pandemic. Reductions in financial support for renewable energy projects, including solar lighting, could have impacted deployment. During the pandemic, governments and organizations prioritized resources towards essential services such as healthcare. This focus on critical needs might have temporarily diverted attention and resources away from infrastructure projects, including solar LED street lighting. The pandemic highlighted the importance of remote monitoring and maintenance capabilities for infrastructure systems. Solar LED Street lighting systems with limited or no remote monitoring features might have faced challenges in managing maintenance and performance during lockdowns. On a positive note, the pandemic underscored the importance of sustainability and resilience. This could lead to increased interest in renewable energy solutions, including solar LED street lighting, as communities and organizations seek environmentally friendly and cost-effective options.

SEGMENTATION ANALYSIS:

Grid Connected segment is anticipated to grow significantly during the forecast period

Grid-connected solar LED street lighting combines the benefits of solar power with the reliability of grid connectivity. This hybrid solution addresses the limitations of standalone solar street lighting systems, ensuring consistent illumination while still harnessing the advantages of renewable energy. Grid-connected solar LED street lighting systems are directly connected to the electrical grid, ensuring a continuous power supply even during periods of low sunlight. Continuous power availability is crucial, especially in areas with high energy demand or where uninterrupted lighting is essential. The grid connection acts as a reliable backup, guaranteeing illumination during adverse weather conditions or extended periods of darkness. While grid-connected, these systems still benefit from solar power during daylight hours, leading to reduced reliance on conventional grid electricity. Smart grid integration allows for features such as remote monitoring, adaptive lighting control, and energy management. These capabilities enhance efficiency, reduce energy waste, and enable proactive maintenance.

The industrial segment is anticipated to grow significantly during the forecast period

Industrial areas are increasingly adopting solar LED street lighting solutions for various reasons, combining the benefits of renewable energy, energy efficiency, and cost savings. Industrial facilities often have extensive outdoor areas that require illumination, and traditional grid-based lighting can be costly. Solar LED Street lighting offers energy efficiency by harnessing solar power, leading to significant cost savings in the long run. The elimination of electricity bills and reduced maintenance costs contribute to the overall economic viability. Some industrial facilities are situated in remote or off-grid locations where access to the traditional power grid is challenging. Solar LED Street lighting is ideal for such locations, providing an independent and reliable lighting solution without the need for extensive grid infrastructure.

REGIONAL ANALYSIS:

The Asia Pacific region is set to witness significant growth during the forecast period.

Solar LED Street lighting in the Asia Pacific region has gained significant traction as countries in this region increasingly look towards sustainable and energy-efficient solutions for outdoor lighting. The Asia Pacific region, with its growing urbanization and population, has witnessed an increased demand for sustainable and environmentally friendly technologies. Solar LED Street lighting aligns with the sustainability goals of many countries in the region, offering an off-grid and energy-efficient solution for outdoor lighting. Many countries in the Asia Pacific have introduced government initiatives and policies to promote renewable energy adoption, including solar lighting solutions. Incentives, subsidies, and favorable regulations encourage the deployment of solar LED street lighting projects, making them more economically viable for municipalities and local authorities. The Asia Pacific region includes diverse landscapes, including remote and off-grid areas where traditional grid-based lighting may be challenging. Solar LED Street lighting is particularly beneficial in off-grid and remote areas, providing a reliable and sustainable lighting solution without the need for extensive grid infrastructure. Many countries in the region are focused on achieving energy independence and reducing reliance on conventional energy sources. Solar LED Street lighting contributes to energy independence by harnessing solar power, leading to reduced electricity costs and long-term savings for municipalities. Ongoing advancements in solar and LED technologies have improved the efficiency and reliability of solar LED street lighting systems.

COMPETITIVE ANALYSIS

The global Solar LED Street Lighting market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.

CREE Lighting

In 2023, Cree Lighting announced the launch of the all-new GuidewayTM Series Street Light, which incorporates NanoComfortTM Technology. This innovative light fixture aims to drastically alter consumers' perceptions of what they expect from a standard street light, including its functionality, features, and options, as well as the level of visual comfort it offers.

Gammasonic

Leading producer of high-end outdoor solar lighting solutions, Gama Sonic USA, is always at the forefront of developing fresh approaches in the solar lighting sector. Recently, the company created a method that allows light fixtures to have a greater number of solar cells integrated into them.

Hubbell Outdoor

Ligman

Greenshine New Energy

Jiawei

LEADSUN

OkSolar

SBM-SolarTech

SEPCO Solar Electric Power Company

Signify Holding

Sokoyo Solar Lighting Co. Ltd

Solar Street Lights USA

Sunna Design SA

SCOPE OF THE REPORT

By Product Type

Standalone

Grid Connected

By Application

Residential

Commercial

Industrial

By Region

North America (the United States & Canada)

Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)

Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

Rest of the World (the Middle East & Africa, and Latin America)

KEY REASONS TO PURCHASE THIS REPORT

It provides a technological development map over time to understand the industry’s growth rate and indicates how the Solar LED Street Lighting market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Solar LED Street Lighting submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032. Show more